FINANCIAL
SERVICES
Fiscal Year 2022-23
Proposed Budget
City Council
Public Hearing and Adoption
May 24, 2022
1 Budget Presentation Schedule
2 April 26: Citywide Overview, General Fund, Burbank Water & Power, Water Reclamation & Sewer, Refuse
Collection & Disposal, Internal Service Funds,
Special Revenue Funds, Housing Authority,
Parking Authority, Successor Agency,
May 3: FY 2022-23 Capital Improvement Program (CIP),
Discussion Papers
May 17: Public Hearing and Adoption of Utility Rates, Budget Follow-up Items
May 24: Public Hearing and Adoption of Citywide
Budget and Fee Schedule
FY 2022-23 CITYWIDE BUDGET
Total Appropriations: $791,810,038
General Fund,
$219,694,022 Water Reclamation
& Sewer,
$22,591,080
Refuse Collection &
Disposal,
$21,440,601
Electric & Water
(BWP), $373,751,962
Internal Service
Funds,
$82,045,170
Special Revenue
Funds, $49,584,605
Housing Authority,
$14,059,178
Parking Authority,
$1,226,915
Successor
Agency,
$7,416,505
3 Updated Contributions to
General Fund Reserves
Revise City Council’s Financial Policies to include formal reserve requirement of 20-25%
Adds budget stabilization reserve of up to 5% of General Fund operating budget
Increase compensated absences reserve from 20%
outstanding liability to 25%
Contribute funds to the City’s Section 115 Trust in
accordance with the City Council’s Financial Policy
$12.1 million in projected FY 2022 -23 FYE General Fund Balance after recommendations are implemented
4 General Fund 5-Year Forecast
(in millions)
5 Ending GF
Balance: $12.1 $22.5
$201.8
$208.6
$216.1
$222.7
$229.5
$201.6
$208.6
$215.2
$221.5
$227.8
$160
$170
$180
$190
$200
$210
$220
$230
$240
2022-23 2023-24 2024-25 2025-26 2026-27
Revenue Expenses
Balance: $0.3 $0.1 $0.8 $1.2 $1.7
Gann Initiative Appropriation Limit
Appropriation Limit $247,811,027
Appropriations Subject to Limitation $161,993,388
Difference $85,817,639
6 Conclusion
The FY 2022-23 Proposed Budget:
Funds premium programs and services
Addresses City Council goals
Provides a robust infrastructure program
Responsibly funds the City’s pension obligations
Increases General Fund reserves
The General Fund is balanced in each year of our
Five-Year Forecast
Despite economic unknowns, Burbank is financially
well positioned for the future
7 Recommendation
Approve the resolutions
adopting the Budget for the
City, Housing Authority, and
Parking Authority, as well as
the Citywide Fee Schedule
and Appropriations Limit.
8